Canada Housing/Debt: Trust me, I'm a landlord.

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

Baronjutter: Dec 31, 2007; "Tiny Trains"

Risky Bisquick posted:

You install it in your strata so the board members get the kickback from the pool company that signed a 5-10 year maintenance deal with.

I was doing an inspection on a huge condo for rich seniors and they had the entire sub-basement as a full sized pool, gym, and sauna. I was down there when the pool guy was there. The pool was warm as hell and very inviting, but he shook his head and said none of the people in the building use it. He estimated maybe 1 person a month ever used it, the gym equipment also sits totally unused, and sometimes the sauna is used. He wouldn't tell me the exact figure but said his contract with the strata to just pop by once a month and check the chemicals and filters and poo poo was in the high hundreds, and the cost to keep the pool super hot 24/7 was even more expensive.

He also said that in high end condos with mostly rich seniors, this is the norm. They all vote against getting rid of the pool though because it's a status thing, only poor struggling stratas convert pool rooms.

# ? Jun 1, 2017 21:45

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# ? May 18, 2024 05:44

cowofwar: Jul 30, 2002; by Athanatos

We bought a unit in a newer building that has no gym, pool, water feature or any other expensive bullshit.

# ? Jun 1, 2017 22:04

Rime: Nov 2, 2011; by Games Forum

Working on units which I could never afford, and only ever interacting with chinese who speak no English, is becoming super demoralizing and it's getting hard to provide quality workmanship tbqh.

:negative:

# ? Jun 1, 2017 22:32

JawKnee: Mar 24, 2007; You'll take the ride to leave this town along that yellow line

maybe just take some time off dude?

# ? Jun 1, 2017 22:34

Twerk from Home: Jan 17, 2009; This avatar brought to you by the 'save our dead gay forums' foundation.

Rime posted:

Working on units which I could never afford, and only ever interacting with chinese who speak no English, is becoming super demoralizing and it's getting hard to provide quality workmanship tbqh.

It's time to learn when to say "Chabuduo" to make them feel more like home.

https://aeon.co/essays/what-chinese-corner-cutting-reveals-about-modernity

# ? Jun 1, 2017 22:35

Baronjutter: Dec 31, 2007; "Tiny Trains"

New vancouver condo "quality"
https://www.youtube.com/watch?v=0j3SChqp51Y

# ? Jun 2, 2017 00:57

Rime: Nov 2, 2011; by Games Forum

Baronjutter posted:

New vancouver condo "quality"
https://www.youtube.com/watch?v=0j3SChqp51Y

I'm glad somebody is finally willing and able to do an in-depth video on the construction issues, so that it's not just my hearsay being poo poo all over in this thread. :allears:

Where's that spergy piece of poo poo who claimed I didn't know what I was talking about, a few months back?

Here's some more good stuff from the /r/Vancouver thread for the video: http://m.imgur.com/gallery/Ed6w1

It has some gems:

I repeat: if you think the leaky condo crisis was big, you can't even imagine what's coming from new builds over the past five-ten years.

Rime fucked around with this message at 01:27 on Jun 2, 2017

# ? Jun 2, 2017 01:21

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Rime posted:

I'm glad somebody is finally willing and able to do an in-depth video on the construction issues, so that it's not just my hearsay being poo poo all over in this thread.

Where's that spergy piece of poo poo who claimed I didn't know what I was talking about, a few months back?

It's not your facts that are being disparaged, it's your opinions, and the fact that it's hard to tell them apart. Also anecdata, but whatever.

# ? Jun 2, 2017 01:25

heehee: Sep 5, 2012; haha wow i cant believe how lucky we got to win

Baronjutter posted:

I was doing an inspection on a huge condo for rich seniors and they had the entire sub-basement as a full sized pool, gym, and sauna. I was down there when the pool guy was there. The pool was warm as hell and very inviting, but he shook his head and said none of the people in the building use it. He estimated maybe 1 person a month ever used it, the gym equipment also sits totally unused, and sometimes the sauna is used. He wouldn't tell me the exact figure but said his contract with the strata to just pop by once a month and check the chemicals and filters and poo poo was in the high hundreds, and the cost to keep the pool super hot 24/7 was even more expensive.

He also said that in high end condos with mostly rich seniors, this is the norm. They all vote against getting rid of the pool though because it's a status thing, only poor struggling stratas convert pool rooms.

This was the same as the building I rented at last year. It was awesome, no one used any of the amenities.

# ? Jun 2, 2017 02:14

Hubbert: Mar 25, 2007; At a time of universal deceit, telling the truth is a revolutionary act.

Baronjutter posted:

New vancouver condo "quality"
https://www.youtube.com/watch?v=0j3SChqp51Y

only the best from westbank

# ? Jun 2, 2017 05:13

cowofwar: Jul 30, 2002; by Athanatos

Ever heard of Porte Development Corp?

# ? Jun 2, 2017 07:35

I would blow Dane Cook: Dec 26, 2008

Baronjutter posted:

I was doing an inspection on a huge condo for rich seniors and they had the entire sub-basement as a full sized pool, gym, and sauna. I was down there when the pool guy was there. The pool was warm as hell and very inviting, but he shook his head and said none of the people in the building use it. He estimated maybe 1 person a month ever used it, the gym equipment also sits totally unused, and sometimes the sauna is used. He wouldn't tell me the exact figure but said his contract with the strata to just pop by once a month and check the chemicals and filters and poo poo was in the high hundreds, and the cost to keep the pool super hot 24/7 was even more expensive.

He also said that in high end condos with mostly rich seniors, this is the norm. They all vote against getting rid of the pool though because it's a status thing, only poor struggling stratas convert pool rooms.

There are other benefits to having the pool boy visit you know.

# ? Jun 2, 2017 07:40

Fried Watermelon: Dec 29, 2008

Rime posted:

I'm glad somebody is finally willing and able to do an in-depth video on the construction issues, so that it's not just my hearsay being poo poo all over in this thread.

Where's that spergy piece of poo poo who claimed I didn't know what I was talking about, a few months back?

Here's some more good stuff from the /r/Vancouver thread for the video: http://m.imgur.com/gallery/Ed6w1

It has some gems:

I repeat: if you think the leaky condo crisis was big, you can't even imagine what's coming from new builds over the past five-ten years.

Actually I think you'll find that these are just new and EFFICIENT construction practices, designed to pass the savings onto the consumer.

(I wonder if they create them so lovely so they can get renovation contracts from them later?)

# ? Jun 2, 2017 14:26

Mandibular Fiasco: Oct 14, 2012

Rime posted:

I'm glad somebody is finally willing and able to do an in-depth video on the construction issues, so that it's not just my hearsay being poo poo all over in this thread.

Where's that spergy piece of poo poo who claimed I didn't know what I was talking about, a few months back?

Here's some more good stuff from the /r/Vancouver thread for the video: http://m.imgur.com/gallery/Ed6w1

It has some gems:

I repeat: if you think the leaky condo crisis was big, you can't even imagine what's coming from new builds over the past five-ten years.

What am I looking at here? Obviously a train wreck, but what's with the pipe into the gravel?

# ? Jun 2, 2017 16:40

Baronjutter: Dec 31, 2007; "Tiny Trains"

I'm assuming the pipe is leaking so they tried to fix it with spray foam ?!?! and then it kept leaking so instead of putting a bucket or something under it they installed a bunch of gravel to soak up the water?? I don't even know

# ? Jun 2, 2017 16:42

Square Peg: Nov 11, 2008

I think it's a drain pipe that's supposed to go outside, but they hosed up so they have some of the outside coming in, held back by barely-screwed-on metal ducting, poo poo caulking, and what looks like clear packaging tape on the sides. And rather than replacing the drywall they had to cut out to make the pipe fit they just sprayed a whole can of GREAT STUFF behind it. Truly a marvel.

# ? Jun 2, 2017 17:02

leftist heap: Feb 28, 2013; Fun Shoe

Chabuduo!

# ? Jun 2, 2017 17:04

Rime: Nov 2, 2011; by Games Forum

Mandibular Fiasco posted:

What am I looking at here? Obviously a train wreck, but what's with the pipe into the gravel?

The pipe is coming through the foundation wall, that wierd sheeting is to hold the dirt and groundwater back from pouring through into the basement. :allears:

# ? Jun 2, 2017 17:39

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

Rime posted:

The pipe is coming through the foundation wall, that wierd sheeting is to hold the dirt and groundwater back from pouring through into the basement.

It's a good think they caulked between the metal and flooring, otherwise water might leak to the concrete base and ruin the floors!

# ? Jun 2, 2017 17:41

McGavin: Sep 18, 2012

Risky Bisquick posted:

It's a good think they caulked between the metal and flooring, otherwise water might leak to the concrete base and ruin the floors!

They also spray painted it to match the walls so nobody would notice.

# ? Jun 2, 2017 17:51

Precambrian Video Games: Aug 19, 2002

Ottawa forfeited $8.7B in uncollected tax in 2014, says report.

quote:

Canada's personal income "tax gap" � taxes due but not collected � hit about $8.7 billion for 2014, says a ground-breaking Canada Revenue Agency report.

The analysis, which the Liberals promised in the 2015 election campaign, includes estimates of tax revenue lost because of unreported income in the domestic underground economy, as well as tax formally assessed against taxpayers who did not pay up for some reason.

The report follows a parallel analysis released June 30 last year by Finance Canada that estimated there was another $4.9 billion in GST/HST that was due in 2014 but not collected, bringing the total "tax gap" so far to about $13.6 billion.

Both analyses were for the domestic economy only, and did not attempt the tricky calculation of tax revenue lost because of offshore tax schemes � a hot-button issue that will get its own CRA report next year.

The latest report, released Friday, is riddled with caveats that warn of incomplete or even non-existent data, and of difficult assumptions. It also cautions that much of the taxes owed might never be collected because of factors such as the bankruptcy of a taxpayer.
Likely an underestimate

Despite those warnings, the 56-page document says the $8.7-billion figure for missing personal-income taxes "is likely an underestimate of the true � tax gap."

...

"The tax gap is sometimes seen as a measure of tax fraud or similar conduct. However, it encompasses revenues lost due to both intentional and unintentional behaviour, including tax evasion, taxpayer error, and in some cases unpaid and uncollectable liabilities, such as when a taxpayer is bankrupt."

Well that's only a few billion, I wonder if there were any other estim-

...researchers used techniques developed by tax agencies in the U.K. and U.S. to estimate a Canadian tax gap of between $16 billion and $47.8 billion for the 2010 tax year. This lost revenue would have provided a significant boost to the $160 billion the CRA collected in federal taxes that year.

Anyway, the good news is that some of the accountants running offshore tax haven scams might actually face criminal charges and maybe even go to ~~jail~~ suspended sentencing or something. Burn KPMG to the ground.

# ? Jun 2, 2017 18:47

Cold on a Cob: Feb 6, 2006; i've seen so much, i'm going blind
and i'm brain dead virtually; College Slice

eXXon posted:

Anyway, the good news is that some of the accountants running offshore tax haven scams might actually face criminal charges and maybe even go to ~~jail~~ suspended sentencing or something. Burn KPMG to the ground.

Good. Nail them to the wall. People need to take responsibility for this poo poo.

# ? Jun 2, 2017 20:12

DariusLikewise: Oct 4, 2008; You wore that on Halloween?

lol could wipe out the Federal deficit by just following the law

# ? Jun 2, 2017 21:17

Jordan7hm: Feb 17, 2011; Lipstick Apathy

quote:

The analysis, which the Liberals promised in the 2015 election campaign, includes estimates of tax revenue lost because of unreported income in the domestic underground economy, as well as tax formally assessed against taxpayers who did not pay up for some reason.

This is not exactly just actual lost tax revenue that you could recoup with better enforcement.

# ? Jun 2, 2017 23:56

Rime: Nov 2, 2011; by Games Forum

Vancouver just evicted everyone in the second largest SRO of the DTES, because the structure is on the verge of collapse. 200+ extra homeless people with nowhere to go.

# ? Jun 3, 2017 07:13

Terebus: Feb 17, 2007; Pillbug

Rime posted:

Vancouver just evicted everyone in the second largest SRO of the DTES, because the structure is on the verge of collapse. 200+ extra homeless people with nowhere to go.

The camp on main near the train station?

# ? Jun 3, 2017 14:03

Rime: Nov 2, 2011; by Games Forum

The Balmoral Hotel

http://www.ctvnews.ca/mobile/canada/evacuation-order-for-vancouver-s-balmoral-hotel-1.3441451

Rime fucked around with this message at 15:23 on Jun 3, 2017

# ? Jun 3, 2017 15:20

Femtosecond: Aug 2, 2003

lol

quote:

Vancouver Home Prices Resume Stubborn Climb to Fresh Record

Vancouver home prices climbed back to a record in May, suggesting the impact of a foreign-buyer tax imposed last year is fading.

Benchmark prices in the west coast city reached a record C$967,500 ($716,300), up 8.8 percent from a year earlier, the Real Estate Board of Greater Vancouver said Friday. Average prices for single detached homes hit C$1.831 million, the most ever.

It�s an indication of how stubborn gains have been in Canada�s biggest real estate markets. Not even a cash-crunch at Toronto mortgage lender Home Capital Group Inc., a succession of government tightening measures or warnings about how price gains are detached from economic fundamentals have had a sustained cooling effect. Comparable data for Toronto housing is due Monday.

The number of homes sold was the third-highest on record for the month of May at 4,364 transactions, and 24 percent above the 10-year average, the Vancouver realtor group said. Sales of the more expensive detached homes fell 17 percent from a year earlier while for attached properties they rose 4.9 percent, possibly reflecting a greater reluctance among home buyers to take on large mortgages in the face of rising interest rates in the U.S.

While total sales fell 8.5 percent from a year earlier, the decline was far less than January�s 40 percent drop.

Bidding wars on million-dollar Vancouver homes led the British Columbia government to fix a 15 percent foreign buyer tax in August, and since then economists have questioned how long the levy would work to cool the market. Toronto introduced its own foreign buyer tax this year and the International Monetary Fund said this week more could be done to prevent a dangerous unwinding of prices amid bloated consumer debt levels.

The previous peak for detached homes was C$1.827 million in January 2016.

The foreign buyers has been effective at cooling the detached market but the attached is making up the slack. Perhaps foreign investors were only ever interested in detached homes, or the relatively cheaper attached homes are now more appealing because they can afford to pay the 15% tax for those.

# ? Jun 3, 2017 18:12

RBC: Nov 23, 2007; IM STILL SPENDING MONEY FROM 1888

its a bull trap, and means nothing

# ? Jun 3, 2017 19:12

HookShot: Dec 26, 2005

Guess who's still around and still advertising to me on Facebook?

# ? Jun 3, 2017 22:36

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

HookShot posted:

Guess who's still around and still advertising to me on Facebook?

Is that more or less value than avocado toast?

# ? Jun 4, 2017 16:43

HookShot: Dec 26, 2005

Risky Bisquick posted:

Is that more or less value than avocado toast?

One Whistler season's pass for next year is worth about 70.5 $17 avocado toasts.

# ? Jun 4, 2017 19:26

namaste friends: Sep 18, 2004; by Smythe

http://business.financialpost.com/p...rakes-on-market

quote:

Toronto home sales drop most since recession as new rules put brakes on market

TORONTO � Sales of existing homes across the Greater Toronto Area dropped a whopping 20.3 per cent in May from a year ago, while the average home price in the region fell about six per cent from April, results based on the first full month of data following a major initiative by the Ontario government to cool Canada�s biggest housing market.

The Toronto Real Estate Board said Monday there were 10,196 sales through the Multiple Listing Service last month, down from 12,790 sales reported in May 2016. Detached home sales fell 26.3 per cent during the period and condominium apartment sales were off 6.4 per cent.

The Toronto home market has not seen such substantial declines in both sales and prices since the recession of 2008.

�The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen. In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and buyers, which later balanced out,� said Jason Mercer, director of market analysis with TREB, in a statement.

The Ontario government announced 16 measures on April 20 to cool the housing market, among them a 15 per cent non-resident speculation tax and expansion of rent controls that limit annual increases, that some commentators have suggested could cool the appetite of investors looking for income properties

TREB pointed to a 14.9 per cent increase in the average price of a home from a year ago, but the $863,910 May figure for the GTA compares with an average of $920,791 in April, a 6.2 per cent drop.

Active listings � the number of properties available for sale � rose 42.9 per cent in May from a year ago, but the board pointed out that May, 2016 was a record low.

�The increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we�ve experienced over the past year by listing their home for sale to take advantage of these equity gains,� Mercer said.

The province stepped in with its rule changes after March prices climbed about 33 per cent on a year-over-year basis, a point that now appears to have been the peak of the housing market in the GTA.

Christopher Alexander, Regional Director, RE/MAX INTEGRA Ontario-Atlantic Canada Region, said in an interview his company has noticed �a flood of new listings� to hit the market, but suggested they are selling, just not as quickly as from January from April.

�I think we are seeing some flattening in prices from previous rules,� Alexander said. �These are the biggest measures the government has taken in the last several years. There has been a lot of talk about the market being overheated so a lot of buyers are seeing how the market is going to play out.�

He suggests the response could be similar to what happened in Vancouver, which is now seeing prices and sales start to rise again after the province put in a 15 per cent tax on foreign buyers in August, 2016. Sales in in Greater Vancouver in May jumped 22.8 per cent from April, while prices rose 8.8 per cent in May from a year ago and 2.8 per cent from April.

�I think if we have a bit of a pause (in Toronto), I think the market is going to accelerate in the fall strongly,� Alexander said.

TREB said active listings increased considerably for low-rise home types, including detached and semi-detached houses and townhouses, but were down for condominium apartments in May from a year ago.

�Home buyers definitely benefited from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017,� said Larry Cerqua, president of the board in a statement.

Foreign buyer taxes never work unless they're in the order of 30% or more. But get hosed anyway ontario.

# ? Jun 5, 2017 16:54

large hands: Jan 24, 2006

namaste faggots posted:

http://business.financialpost.com/p...rakes-on-market

Foreign buyer taxes never work unless they're in the order of 30% or more. But get hosed anyway ontario.

welcome back, big guy

# ? Jun 5, 2017 17:27

namaste friends: Sep 18, 2004; by Smythe

https://twitter.com/jason_kirby/status/871781933277204481

I called it motherfuckers

# ? Jun 5, 2017 19:07

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

quote:

Ottawa will bail out homebuyers

FTFY

# ? Jun 5, 2017 19:12

Rime: Nov 2, 2011; by Games Forum

Hmm, lots of chatter around the tower I just got moved to that the industry has hit a speedbump and a ton of towers are going to be announced indefinitely suspended before the end of the summer. Couldn't get any specifics, could just be bullshit. :shrug:

Alarming to hear that kind of chatter in the trades though, when the work is currently firing on all cylinders.

# ? Jun 5, 2017 19:42

namaste friends: Sep 18, 2004; by Smythe

Rime posted:

Hmm, lots of chatter around the tower I just got moved to that the industry has hit a speedbump and a ton of towers are going to be announced indefinitely suspended before the end of the summer. Couldn't get any specifics, could just be bullshit.

Alarming to hear that kind of chatter in the trades though, when the work is currently firing on all cylinders.

3/10 terrible troll.

Nothing has changed in the industry and sales are hotter than ever. Tell your townie buddies a stemlord on the internet think they're dumb

# ? Jun 5, 2017 19:48

James Baud: May 24, 2015; by LITERALLY AN ADMIN

Rime posted:

Hmm, lots of chatter around the tower I just got moved to that the industry has hit a speedbump and a ton of towers are going to be announced indefinitely suspended before the end of the summer. Couldn't get any specifics, could just be bullshit.

Alarming to hear that kind of chatter in the trades though, when the work is currently firing on all cylinders.

You have to bear in mind that approximately 90 highrise towers are planned in Burnaby alone between Brentwood, Lougheed, Sears/Metrotown, and the old Safeway distribution center near Edmonds. That build out would take decades uninterrupted.

# ? Jun 5, 2017 19:57

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# ? May 18, 2024 05:44

leftist heap: Feb 28, 2013; Fun Shoe

Bail out home owners by forcing them to sell their homes to renters for a quarter on the dollar.

# ? Jun 5, 2017 20:01

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